Terex Corporation Completes Senior Notes Offering
Terex Corporation (NYSE: TEX) has completed the issuance of $600,000,000 in 5.00% senior notes due 2029 in a private offering. The company plans to use the proceeds along with cash to redeem its 5.625% senior notes due 2025 on April 5, 2021, at a redemption price of 102.813% of the principal amount plus accrued interest. This move aims to optimize their debt structure. The release also includes forward-looking statements which identify potential risks that may impact future performance.
- Successfully raised $600 million through the issuance of senior notes.
- Intends to redeem higher-interest 5.625% senior notes, potentially reducing interest expenses.
- None.
NORWALK, Conn., April 1, 2021 /PRNewswire/ -- Terex Corporation ("Terex") (NYSE: TEX) today announced that it has completed the issuance of
Pursuant to a previously announced notice of redemption, Terex intends to use the proceeds from the offering of the Notes, together with cash on hand, to redeem its
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes or the related guarantees in any jurisdiction, or an offer to purchase, the solicitation of an offer to sell, or a notice to redeem any of the 2025 Notes.
Forward Looking Statements
This press release contains forward-looking information regarding future events or Terex's future financial performance based on the current expectations of Terex. In addition, when included in this press release, the words "may," "expects," "intends," "anticipates," "plans," "projects," "estimates" and the negatives thereof and analogous or similar expressions are intended to identify forward-looking statements. However, the absence of these words does not mean that the statement is not forward-looking. Terex has based these forward-looking statements on current expectations and projections about future events. These statements are not guarantees of future performance.
Actual events or the actual future results of Terex may differ materially from any forward-looking statement due to these and other risks, uncertainties and significant factors. The forward-looking statements speak only as of the date of this release. Terex expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement included in this release to reflect any changes in expectations with regard thereto or any changes in events, conditions, or circumstances on which any such statement is based.
About Terex
Terex Corporation is a global manufacturer of aerial work platforms and materials processing machinery. Terex designs, builds, and supports products used in construction, maintenance, manufacturing, energy, minerals and materials management applications. Terex's products are manufactured in North and South America, Europe, Australia, and Asia and sold worldwide. Terex engages with customers through all stages of the product life cycle, from initial specification and financing to parts and service support.
Contact Information
Terex Corporation
Randy Wilson
Director, Investor Relations
203-221-5415
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SOURCE Terex Corporation
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